Allogene Therapeutics(US:ALLO)2025-03-13 20:03Financial Performance - The company reported a net loss of $59.9 million for Q4 2024, or $0.28 per share, with a full-year net loss of $257.6 million, or $1.32 per share[18]. - Net loss for the three months ended December 31, 2024, was $59.94 million, compared to a net loss of $85.78 million for the same period in 2023[25]. - Net loss per share, basic and diluted, was $(0.28) for the three months ended December 31, 2024, compared to $(0.51) for the same period in 2023[25]. - The company expects a decrease in cash, cash equivalents, and investments of approximately $170 million in 2025, with GAAP operating expenses projected at around $250 million[16]. - Total operating expenses for the three months ended December 31, 2024, were $60.49 million, a decrease from $85.13 million in the same period of 2023[25]. - Research and development expenses for the year ended December 31, 2024, were $192.30 million, down from $242.91 million in 2023[25]. - General and administrative expenses for the year ended December 31, 2024, were $65.21 million, compared to $71.67 million in 2023[25]. - Interest and other income, net, increased to $20.15 million for the year ended December 31, 2024, from $18.31 million in 2023[25]. Cash and Investments - Allogene Therapeutics ended Q4 2024 with $373.1 million in cash, cash equivalents, and investments, projecting a cash runway into the second half of 2026[18]. - Cash, cash equivalents, and investments decreased to $373.15 million as of December 31, 2024, from $448.70 million as of December 31, 2023[27]. - Total assets decreased to $548.71 million as of December 31, 2024, from $642.84 million as of December 31, 2023[27]. - Total stockholders' equity decreased to $422.18 million as of December 31, 2024, from $512.23 million as of December 31, 2023[27]. Research and Development - Research and development expenses for Q4 2024 were $45.0 million, totaling $192.3 million for the full year, which included $20.4 million in non-cash stock-based compensation[18]. - The pivotal Phase 2 ALPHA3 trial for cema-cel in large B-cell lymphoma (LBCL) has 40 sites activated and aims to enroll approximately 240 patients, with primary event-free survival data expected around year-end 2026[6][7]. - Allogene received FDA clearance for the IND application of ALLO-329, targeting autoimmune diseases, with trial initiation expected in mid-2025 and proof-of-concept data anticipated around year-end 2025[10][16]. - ALLO-316 demonstrated significant anti-tumor activity in advanced renal cell carcinoma (RCC) with positive Phase 1 data, and enrollment for the Phase 1b expansion cohort has been completed[12][13]. - The ALPHA3 trial is the first pivotal trial to potentially eradicate minimal residual disease (MRD) in LBCL, aiming to improve cure rates[5]. - The company aims to demonstrate that allogeneic CAR T therapies can surpass autologous CAR T therapies by reaching more patients with greater accessibility in 2025[3]. Collaborations and Revenue - Allogene's strategic partnership with Foresight Diagnostics has been expanded to support the development of MRD assays as companion diagnostics in multiple regions[8]. - Collaboration revenue from related parties was $21 million for the three months ended December 31, 2023, and $22 million for the year ended December 31, 2023[25].